The drive to reach net zero greenhouse gas emissions by 2050 has taken a sizeable step forward with the award of two carbon storage licenses in the Southern North Sea.
The drive to reach net zero greenhouse gas emissions by 2050 has taken a sizeable step forward with the award of two carbon storage (CS) licences in the Southern North Sea. The North Sea Transition Authority (NSTA) has awarded the licences to bp and Equinor with an appraisal term of eight years.
The United Kingdom Government has developed an ambitious plan to phase out traditional oil and gas and transition to “clean energies” in the form of nuclear, wind, solar, and hydrogen.
The government’s British Energy Security Strategy sets out how Great Britain will accelerate the deployment of wind, new nuclear, solar and hydrogen, whilst supporting the production of domestic oil and gas in the nearer term – which could see 95% of electricity by 2030 being low carbon.